New York Life Reviews

Updated March 15, 2015
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141 Reviews
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New York Life Chairman, President & CEO Ted Mathas
Ted Mathas
493 Ratings

141 Employee Reviews

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  1. 3 people found this helpful

    Strong organization but poor at executing cultural change

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President Underwriting in New York, NY
    Former Employee - Assistant Vice President Underwriting in New York, NY

    I worked at New York Life full-time (more than 3 years)

    Pros

    Financial strength, a universe (although it's shrinking by the month) of knowledgable, seasoned staff. Midtown Manhattan location .

    Cons

    Has changed sgnificantly in the last few years, from a beneficient, proud-to-be-here employer to a keep-your-head-down, "what shoe is going to drop next" environment. As others have observed, continual staff cuts (latest one announced willl bascially outsource most of IT, cutting 2,000 jobs). Employee population has basically broken into two groups, grizzled veterans who are rewokring their financials so they can retire as soon as possible and young new recruits who are clueless about what they are getting into.

    Advice to ManagementAdvice

    Deciding loyalty to your human capital doesn't matter is at odds with your sustainable growth strategy.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 5 people found this helpful

    Great Training.....and thats about it.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent in Austin, TX
    Former Employee - Insurance Agent in Austin, TX

    I worked at New York Life

    Pros

    Phenomenal training that can be used in all sales jobs.

    Cons

    NYL recruits HEAVILY with 0 base pay. dont listen to the whole "you get more commission cause you're in training" junk. If you dont sell you dont make a dime. they will ask you to make a HUGE list of people you know and ask you to basically bother and guilt friends and family into buying. it can be pretty rough. Its a huge company with deep pockets its all white collar and mercedes on the outside but internally its a heap of turnover and stress about how people are gonna pay their bills. Only a few make it....you can be successful but dont drink the kool-aid.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3. Good training for Life Insurance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Agent in Bellevue, WA
    Current Employee - Insurance Agent in Bellevue, WA

    I have been working at New York Life

    Pros

    This is a great place to be if you don't mind working hard and giving up your social life.

    Cons

    Depending on your partner, micromanagement and lack of field training can be an issue for those new to industry.

    Advice to ManagementAdvice

    More training for management on how to transition from autonomous agents to team leadership needed.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 1 person found this helpful

    Not what they claim to be

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Sales Agent in Queens Village, NY
    Former Employee - Insurance Sales Agent in Queens Village, NY

    I worked at New York Life

    Pros

    they have earning potential and location

    Cons

    everything else is pretty crappy at this place

    Advice to ManagementAdvice

    Make managers more consistent, Make sure they are honest and up front with potential sales people.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 5 people found this helpful

    Benefits Navigation Nightmare

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life

    Pros

    Training program is definitely top notch!

    Cons

    Very high employee/agent contribution for health care with very high $1600 annual, stacking deductibles. Dropped healthy dependent so I could (unfortunately) access benefits for unhealthy self without meeting two deductibles--yes, stacked deductibles--who knew?! Happily left in 2014. Now frustrated trying to get through all the red tape and multiple voice menus to obtain a W-2 for tax purposes for 2014. Too much automation and road blocks to be effective. Messages not being returned once arriving at the supposed proper gatekeeper further frustrates the matter. Calls back to NYL's terrible automated system dump me back in the same voice mailbox. Really!? I think I need to write to 51 Madison Avenue, NY.

  7. 3 people found this helpful

    If your not happy with your manager, seek assistance from one of the directors. Hopefully they will help.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Manager in New York, NY
    Former Employee - Customer Service Manager in New York, NY

    I worked at New York Life full-time (more than a year)

    Pros

    The company was generous with time off policy
    The company gave yearly bonuses.
    Weekend Offs!
    Decent Pay

    Cons

    Management was unapproachable.
    Human Resources was never available for help.
    New hire training is a joke.
    Bad work/Life balance. You are married to your job.

    Advice to ManagementAdvice

    Listen to your employees, if you continue to ignore them they will work elsewhere.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 3 people found this helpful

    Administrative assistant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New York Life

    Pros

    Flexible hours, pretty straight forward

    Cons

    No challenge since it tends to be the same things over and over. No sense of community since the turnover rate is high and people are constantly in & out of the office

    Doesn't Recommend
    Negative Outlook
  9. 2 people found this helpful

    not the best

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New York Life

    Pros

    there are no pros for this company

    Cons

    they nickel and dime the sales team

    Advice to ManagementAdvice

    Manage

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  10. 2 people found this helpful

    Finance and IT Transformation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Systems Analyst in Sleepy Hollow, NY
    Current Employee - Senior Systems Analyst in Sleepy Hollow, NY

    I have been working at New York Life

    Pros

    The commute is great for me.

    Cons

    New York Life is currently undergoing transformations in their Finance and IT groups. What this means is that the vast majority of employees in these groups will have their jobs eliminated and will be replaced by outsourced (USA and offshore).

    Advice to ManagementAdvice

    Keep the staff employed by NYL and not outsourced staff who will have less investment in the company's success.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 1 person found this helpful

    You work for free and you harass everyone you meet and know to buy life insurance.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Financial Services Professional in Columbia, MD
    Former Contractor - Financial Services Professional in Columbia, MD

    I worked at New York Life as a contractor (more than a year)

    Pros

    Overall the company is in excellent financial shape and will be around for a long time. If you have the morals of the Wolf of Wall Street, then you can make some money.

    Cons

    The office staff is your enemy, not your support.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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